Where to start for a lazy budgeter?

mfmaybe

Hi everyone

I just wanted to say thanks for all the very well considered and helpful responses. As others indicated, it would be easy to dismiss my "money worries" in the face of others who do have really distressing immediate concerns. But you've all been incredibly helpful, for which I'm very grateful :T. And I have to say, I'm pleased to find I'm not alone in my disorganisation and cavalier attitude to my limited wealth!

Today I updated my bank reconciliation and am not nearly as skint as I thought. However, that's not so much cause for celebration as this was due to an unexpected bit of income, not clever budgeting, so the task remains the same! That said, today I was fairly lax on my spending again so I haven't changed my ways quite yet

Anyway I updated all my fancy pivot tables and spreadsheets etc before I left work, so am about to sit down and work out exactly WHERE I've been overspending. Rock and roll for a Friday evening, but hey at least I'm not spending money :A

Thanks again for the support and great ideas! What do you think are the best challenges to start with?

Angel_of_Tomfoolery

Hi, I just want to say that I'm also lazy (I need 'procrastination is the thief of time' tattooed on me!) but just over a year ago I created my spending diary/budget spreadsheet and I've found it really useful. I must confess that I only did it because I was avoiding a task that was even less appealing! For me, the only way I can stick to keeping track is by obsessing about updating it. I spend a few minutes every day putting in what we've spent. My OH thinks I'm a complete loon! He has a similar outlook to you - we live reasonably well so no incentive to cut back. My spreadsheet has monthly columns for 'expected' and 'actual' outgoings (split into lots of categories) and a colour coded column for the 'difference' (red = oops!). I didn't do it to restrict our spending as such but seeing the real figures about how much we waste definately helps me think twice before I spend. Having takeaways is one of our biggest weaknesses so I've started taking out a specific amount in cash at the start of the month and when it's gone, it's gone. That took a while to get into though - we really struggled by the end of the month! I guess it's best to think of it as a work in progress :-) OH still has his bucket of Starbucks every morning though!

Not sure if that's any help - you sound like you kind of know what your problem is, it's just the motivation that's lacking...

YOU CAN DO IT!! :-)

SJ1

Hi!

On challenges I would suggest trying to predict how much you should spend each week and then try and stick to that this week. So a week for me runs from sat to sat as we work and need to fill up cars and shop for food at weekend.

So work out how much you reckon you 'could' do it for. Do the shop (plan it all out so you have enough for the whole week) and fill the cars/get train tickets etc and then switch to cash for everything. Take the cash out at the start of the week and divide it into the various pockets that you spend - so food top up/coffees/parking - whatever you need. But have it planned in advance. Put these bits of money into separate little pockets in your bag and then don't go to the cash machine or touch your cards all week. I got a separate little purse for lunch and food and the rest was in those little clear bags from the bank. Given your own admission of finding this tricky I would recommend taking out another £50 for 'other' things like dry cleaning and then see how you get on.

It sounds quite simple but it's actually more tricky than it sounds. Also feels very good if you manage it. My budget is generous but if I stick to it then we can save and do well. It's also easier to see where things are going when you separate it out.

Good luck! You can do it :j

SJ

canidothis

My spreadsheet has monthly columns for 'expected' and 'actual' outgoings (split into lots of categories) and a colour coded column for the 'difference' (red = oops!).


Your spreadsheet sounds like an exact copy of mine:T I love mine.
And Ive learnt conditional formatting so that my difference column colours up dependant on the instructions, if Im under budget i rather like using PINK its a happy colour :rotfl:

Angel_of_Tomfoolery

canidothis wrote: »

My spreadsheet has monthly columns for 'expected' and 'actual' outgoings (split into lots of categories) and a colour coded column for the 'difference' (red = oops!).


Your spreadsheet sounds like an exact copy of mine:T I love mine.
And Ive learnt conditional formatting so that my difference column colours up dependant on the instructions, if Im under budget i rather like using PINK its a happy colour :rotfl:

I'm so proud of mine lol. I'd only had minimal use of excel before so I figured a lot of it out myself I use the conditional formatting too! I use green for when I'm under budget but pink sounds much better! I also colour fill the cells which won't change once paid (i.e. DD like sky, contact lenses etc) so I know at a glance which categories may increase (like groceries, petrol). I'm such a geek! :rotfl: